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This mystical black hole on 08:02 - Aug 3 by PawelAbbott
The £30M was the difference between our expenditure during the last premiership season and what we were due to receive at the end of the last season. The situation has changed dramatically since then in terms of wage bill. I would very much doubt that we made a loss last season as the wage bill was dramatically reduced and we made a £30M profit on player sales. The continued financial difficulties, I would assume, refer to the difference between running costs for the current situation and the payments we will receive when the parachute payments stop. The income from sales has given us a cushion for this. However, if we don’t invest in good, high potential players then we will struggle on and off the pitch. We have to invest the money we receive wisely. The black hole was exacerbated by the fact that since getting promoted to the prem, we have spent our money in advance. We borrow that seasons money at the beginning and receive it at the end. So this seasons first parachute payment is what was used to pay last seasons wages etc. The squad we had at the of the premiership was going to have to be paid out of the parachute payments if we hadn’t offloaded them
[Post edited 3 Aug 2019 8:12]
[Post edited 3 Aug 2019 9:29]
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This mystical black hole on 09:32 - Aug 3 with 984 views
This mystical black hole on 09:22 - Aug 3 by Dr_Winston
Apologies, the last accounts had the wage bill at £91m, which is so much better...
Whichever way you look at it, our liabilities (and that's including money owed in tax, severance payments, future transfer fees etc) vastly outstripped our future income streams, most of which had already been sold off. We were in deep, deep shit financially if some of the actions taken hadn't been taken. Most of these magical parachute payments that some seem to think enable us to keep paying Premier League costs ad infinitum are already spoken for.
People aren't interested in that though. Doesn't suit the narrative of evil Yanks flying big bags of Swansea City cash back to the US to pay Wayne Rooney's wages.
This mystical black hole on 09:32 - Aug 3 by magicdaps10
Could you explain what the parachute payments are spoken for and what they were used for?
The parachute payments put in place for such events we are in and who has controlled these payments that are already spoken for.
It's already been covered on these boards in great depth. Not my fault if you haven't bothered educating yourself.
Nicely illustrates the point that you have to ask the question actually.
This post has been edited by an administrator
Pain or damage don't end the world. Or despair, or f*cking beatings. The world ends when you're dead. Until then, you got more punishment in store. Stand it like a man... and give some back.
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This mystical black hole on 09:38 - Aug 3 with 972 views
This mystical black hole on 09:22 - Aug 3 by Dr_Winston
Apologies, the last accounts had the wage bill at £91m, which is so much better...
Whichever way you look at it, our liabilities (and that's including money owed in tax, severance payments, future transfer fees etc) vastly outstripped our future income streams, most of which had already been sold off. We were in deep, deep shit financially if some of the actions taken hadn't been taken. Most of these magical parachute payments that some seem to think enable us to keep paying Premier League costs ad infinitum are already spoken for.
People aren't interested in that though. Doesn't suit the narrative of evil Yanks flying big bags of Swansea City cash back to the US to pay Wayne Rooney's wages.
To be fair, this ‘paying Rooneys wages’ rhetoric is often brought up by those who think the Americans are doing a fine job. In reality, it’s only a handful of our simpler posters who actually believe they are embezzling funds or siphoning them to DC United.
No one seems to have an answer for how they’ve allowed us to get into such a financial mess. Clubs get relegated every season. They rarely need an immediate fire sale followed by selling their two biggest assets 12 months down the line.
Responsible owners would have mitigated against the possibility of relegation (particularly when it was far from a remote possibility). Ours have allowed us into a situation where commitments dwarf income, even accounting for parachute payments.
Trusting Jenkins isn’t an excuse.
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This mystical black hole on 09:46 - Aug 3 with 958 views
This mystical black hole on 09:40 - Aug 3 by jack247
To be fair, this ‘paying Rooneys wages’ rhetoric is often brought up by those who think the Americans are doing a fine job. In reality, it’s only a handful of our simpler posters who actually believe they are embezzling funds or siphoning them to DC United.
No one seems to have an answer for how they’ve allowed us to get into such a financial mess. Clubs get relegated every season. They rarely need an immediate fire sale followed by selling their two biggest assets 12 months down the line.
Responsible owners would have mitigated against the possibility of relegation (particularly when it was far from a remote possibility). Ours have allowed us into a situation where commitments dwarf income, even accounting for parachute payments.
Trusting Jenkins isn’t an excuse.
There's more than a handful, this board is infested with posters of that mind.
And those that don't come out and actually say those words, are still convinced we are being fleeced (see this thread alone).
You keep going on about selling our best player (James, but you've now extended that to two players), and I keep saying that in Dan's case, we would have sold him no matter if we were in the Premier League anyway. We have always sold our best players when silly money is offered for them.
Every sane person knows why we are here now, repeating it every few days doesn't change the fact that the owners are NOW trying their best not to make the situation worse. The easiest thing for them to do would be to loan us untold millions in the faint hope of getting us promoted again. And all those constantly crying about how we are not spending on players, will be the very posters who would be up in arms if we ended up deeper in the shit because of poor recruitment etc. Just remember, buying players isn't an exact science.
The owners are on a hiding to nothing no matter what they do.
I want a mate like Flashberryjacks, who wears a Barnsley jersey with "Swans are my second team" on the back.
This mystical black hole on 09:40 - Aug 3 by jack247
To be fair, this ‘paying Rooneys wages’ rhetoric is often brought up by those who think the Americans are doing a fine job. In reality, it’s only a handful of our simpler posters who actually believe they are embezzling funds or siphoning them to DC United.
No one seems to have an answer for how they’ve allowed us to get into such a financial mess. Clubs get relegated every season. They rarely need an immediate fire sale followed by selling their two biggest assets 12 months down the line.
Responsible owners would have mitigated against the possibility of relegation (particularly when it was far from a remote possibility). Ours have allowed us into a situation where commitments dwarf income, even accounting for parachute payments.
Trusting Jenkins isn’t an excuse.
They f*cked up royally after being sold the “Jenkins is infallible “ line and now they’re doing their best to repair the damage.
Each time I go to Bedd - au........................
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This mystical black hole on 10:05 - Aug 3 with 909 views
This mystical black hole on 21:27 - Aug 2 by Oldjack
and that 100mill was covered by tv monies ,we offloaded a load of player's during that close season, I think 50 mill would have covered the wages for last season .not to mention transfer fees. Stop sticking up for the Yanks bullshyte ffs
This is what trying to explain football finance to OJ is like...
Pain or damage don't end the world. Or despair, or f*cking beatings. The world ends when you're dead. Until then, you got more punishment in store. Stand it like a man... and give some back.
This mystical black hole on 09:46 - Aug 3 by Neath_Jack
There's more than a handful, this board is infested with posters of that mind.
And those that don't come out and actually say those words, are still convinced we are being fleeced (see this thread alone).
You keep going on about selling our best player (James, but you've now extended that to two players), and I keep saying that in Dan's case, we would have sold him no matter if we were in the Premier League anyway. We have always sold our best players when silly money is offered for them.
Every sane person knows why we are here now, repeating it every few days doesn't change the fact that the owners are NOW trying their best not to make the situation worse. The easiest thing for them to do would be to loan us untold millions in the faint hope of getting us promoted again. And all those constantly crying about how we are not spending on players, will be the very posters who would be up in arms if we ended up deeper in the shit because of poor recruitment etc. Just remember, buying players isn't an exact science.
The owners are on a hiding to nothing no matter what they do.
They aren’t, not by a long way. They’ve picked up so many acolytes recently they are on their way to becoming amongst our most popular owners. On here at least.
To be honest, the ‘paying Rooneys wages’ line is spouted all the time, but invariably by yourself and people who share your opinion, along with ‘those dastardly Yanks’ or something similar. Don’t tar everyone who doesn’t like the way the club is headed under these owners with that brush. It’s only the terminally thick that actually believe it.
It’s been extended from selling our prized asset to selling our two most valuable assets since we sold McBurnie.
The owners, to me at least, are distancing themselves from the club. We’re a bad investment since relegation, there is no apetite to get us back up, unless we are in the hunt in January apparently. They haven’t suddenly gone from incompetent to responsible owners, they’ve just lost their bet (PL survival) and focussed their energies on their more lucrative investments.
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This mystical black hole on 10:37 - Aug 3 with 850 views
This mystical black hole on 09:50 - Aug 3 by Brynmill_Jack
They f*cked up royally after being sold the “Jenkins is infallible “ line and now they’re doing their best to repair the damage.
Think how mental that sounds. Very capable and successful investors, managing a multi million dollar hedge fund, being sold magic beans by a guy who’d only ever run one football club.
Then keeping him in place after the first season and throwing money the club couldn’t afford (gambling with our future/taking out unaffordable commitments/debting us up to the tits/whatever phrase you want to praise them for not doing now) on Bony and particularly Ayew.
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This mystical black hole on 10:59 - Aug 3 with 812 views
This mystical black hole on 20:40 - Aug 2 by magicdaps10
If we don't sell Ayew and he refuses to play or even train with us, how would we stand with terminating his contract? Would it be something we could legally do or as normal would player power win the day?
Why would he refuse to play? Usually players do that when they've been stopped from moving or something. We want him to move.
This mystical black hole on 09:32 - Aug 3 by magicdaps10
Could you explain what the parachute payments are spoken for and what they were used for?
The parachute payments put in place for such events we are in and who has controlled these payments that are already spoken for.
Beyond the obvious I cannot confirm what they were used for but believe we got around £42M for our first season out of the Prem (presume we actually received it at the end of last season), we are due a further around £34M at the end of this season & assuming we don't go back up this coming season we'll get approximately £16M as our last parachute payment at the end of the 20/21 season.
We then join the bulk of the other 72 EFL clubs & get 'solidarity payments' of around £5M per season under current agreed rules - these could of course change.
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This mystical black hole on 11:02 - Aug 3 with 806 views
This mystical black hole on 20:46 - Aug 2 by SgorioFruit
all monies and profits will go straight into the pockets of the 27 people who bought this club to make a profit for themselves, they didn't buy the club to invest in the club.
Profits get paid to shareholders through dividends right? The Trust are shareholders and have said in meetings that no dividends have been paid to any shareholders since relegation from the prem. If the owners had wanted to, they could have still paid and recieved dividends, but they chose not to. I'm not saying they are great owners, but just can't see where people think they are taking profits for themselves.
Can you explain how they are getting the club's money into their and their friend's pockets?
This mystical black hole on 10:38 - Aug 3 by jack247
Think how mental that sounds. Very capable and successful investors, managing a multi million dollar hedge fund, being sold magic beans by a guy who’d only ever run one football club.
Then keeping him in place after the first season and throwing money the club couldn’t afford (gambling with our future/taking out unaffordable commitments/debting us up to the tits/whatever phrase you want to praise them for not doing now) on Bony and particularly Ayew.
The same people who have just put Birch in sole control.
That's what these people do. They buy into companies and put the best people in charge they can, which they thought Huw was, based on his track record to that point. They don't keep total control over everything they invest in. They couldn't.
Really not sure why you're having such a hard time with this.
Pain or damage don't end the world. Or despair, or f*cking beatings. The world ends when you're dead. Until then, you got more punishment in store. Stand it like a man... and give some back.
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This mystical black hole on 11:50 - Aug 3 with 746 views
This mystical black hole on 11:36 - Aug 3 by Dr_Winston
The same people who have just put Birch in sole control.
That's what these people do. They buy into companies and put the best people in charge they can, which they thought Huw was, based on his track record to that point. They don't keep total control over everything they invest in. They couldn't.
Really not sure why you're having such a hard time with this.
I’m not suggesting they should run the club themselves.
I do think it’s mental that Jenkins managed to sell the dream to these experienced investors, they took an extremely lax approach to reviewing his performance and allowed him to commit the club to expenditure it quite likely wouldn’t be able to afford in six months, for three and a half years. You may disagree, but to me, it’s complete negligence.
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This mystical black hole on 12:16 - Aug 3 with 723 views
This mystical black hole on 11:50 - Aug 3 by jack247
I’m not suggesting they should run the club themselves.
I do think it’s mental that Jenkins managed to sell the dream to these experienced investors, they took an extremely lax approach to reviewing his performance and allowed him to commit the club to expenditure it quite likely wouldn’t be able to afford in six months, for three and a half years. You may disagree, but to me, it’s complete negligence.
I've never argued otherwise.
Hell, when the takeover was confirmed one of my stated hopes was that Jenkins would have a bit more supervision as his control freakery was becoming increasingly apparent.
It being an incredibly stupid thing to do doesn't mean that they didn't do it. One of the things I suspect most people can agree on is that they've largely done a piss poor job as owners.
Pain or damage don't end the world. Or despair, or f*cking beatings. The world ends when you're dead. Until then, you got more punishment in store. Stand it like a man... and give some back.
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This mystical black hole on 12:48 - Aug 3 with 682 views
The owners are speculators. It's effectively gambling and not every gamble pays off. The why it's an investment - it doesn't mean that they are in it to invest. It's not rocket science and it's getting a bit old now.
‘……. like a moth to Itchy’s flame ……’
This mystical black hole on 11:02 - Aug 3 by jackrmee
Profits get paid to shareholders through dividends right? The Trust are shareholders and have said in meetings that no dividends have been paid to any shareholders since relegation from the prem. If the owners had wanted to, they could have still paid and recieved dividends, but they chose not to. I'm not saying they are great owners, but just can't see where people think they are taking profits for themselves.
Can you explain how they are getting the club's money into their and their friend's pockets?
There's been no dividends since the yanks took over
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you keep on believing those fairy stories ,Yank lover 
